The Constitution of 1787 Provided That the President and Vice

question 55

Multiple Choice

The Constitution of 1787 provided that the president and vice president would be

• A)elected by popular vote.
• B)chosen by state legislatures.
• C)chosen by an electoral college.
• D)limited to two terms of office.
• E)elected by the House and Senate.

---

Definitions:

Marginal Utility

This term refers to the additional satisfaction or utility gained by consuming one more unit of a good or service.

Rational Consumer

An economic theory assumption that consumers make purchasing decisions based on their rational outlook, available information, and self-interest to maximize utility.

Income Effect

A change in the quantity demanded of a product that results from the change in real income (purchasing power) caused by a change in the product’s price.

Normal Good

A good or service whose consumption increases when income increases and falls when income decreases, price remaining constant.